Please contact your own lawyer to inquire about the negotiations on this agreement and the legal effect of these documents. If you need a lawyer, please contact Volunteer Lawyers for the Arts to explore your options. The contract is intended to facilitate the negotiation process between an author or his representative and a company that employs that author. Businesses, writers and their representatives can use these forms to commemorate employment contracts before a “long form” agreement is presented. Please note that WGAW may provide business advice and suggestions, but it cannot provide legal advice during negotiations. Please contact your own lawyer to inquire about the negotiations on this agreement and the legal effect of these documents. In many cases, in cases where no studio, network or large funding unit is involved, no actual cash compensation is exchanged at the signing of the agreement and what is tendered for tender is a promise to do everything in its power to develop, finance and create creative elements for the project. What is sometimes frustrating for the sponsors involved, along with their agents, managers, lawyers, accountants, corporate advisors, etc., is that despite the euphoria of the million dollar script option operation reported in trades, a considerable amount of time, effort and emotional drama is invested in negotiating all the specific conditions of the option agreement, but at the end of the day , little and sometimes no cash can actually exchange hands. inversion. I have seen agreements in which the producer actually exercises the option and thus pays the author the purchase price of the literary property, but for whatever reason, does not go ahead and produces the film project.
This puts the writer in the inevitable position of having obtained this, which I hope is a considerable sum for his screenplay; unfortunately, can never see his project on the screen. This scenario can be avoided by negotiating what is commonly called reversion in LPo. This provision provides that if the option is exercised and the purchase price is paid, but the main photography did not begin within five years of the exercise of the option, then the literary property would return to the writer. Are you frustrated by the company`s employees who take too long to write a long-form contract? Find in the company`s draft contract terms that you have not negotiated, expected or want? Will your compensation be blocked because you are arguing over the language of the contract? Do the company`s terms and conditions of sale contain seemingly hidden provisions that engage in the copyright of the author, such as reserved or separate rights? The initial payment of the option is usually applied to the purchase price or deducted from the purchase price.
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